Australian construction co bags $720 mn contract from ONGC

Australian construction co bags $720 mn contract from ONGC
PTI
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First Published: Tue, Mar 25 2008. 03 22 PM IST
Updated: Tue, Mar 25 2008. 03 22 PM IST
Melbourne: Australian construction company Leighton Holdings Ltd today announced it has bagged a contract from Oil and Natural Gas Corporation worth $720 million for building an oil and gas pipeline in India.
Leighton will install over 200 km of fixed and flexible pipelines for ONGC in the Bombay High field, about 80 km off the coast of Mumbai and the project will commence in November, according to the company’s statement released on Tuesday.
The work will take place over the next three years between November and May when the weather is suitable, the statement said.
Leighton International Managing Director David Savage said the project consolidated the company’s operations in India. “Our capabilities in oil and gas have been strengthened over the years and this project for ONGC is testament to this,” Savage said in the statement.
“This is the second pipeline replacement project being launched by ONGC with more expected in the coming years,” he said.
“The project increased Leighton International’s work in hand to $3.2 billion (3.54 billion Australian dollars),” Savage said, adding he expected the amount of work in hand to increase in the next few months as prospects in the Persian Gulf become projects.
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First Published: Tue, Mar 25 2008. 03 22 PM IST